Get a head start on your taxes
Do you want to resolve your Tax issue or would like more information on what options exist for your specific tax issue? Don’t hesitate to reach out to our office for professional tax preparation assistance.
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Getting Started
Using the proper tax planning strategies is essential for a small business. In order to minimize the amount of money that is paid to the government, a business has to plan out how to handle taxes far in advance. Here are a few tax planning strategies that can be beneficial to small businesses.
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Utilize Expenses
A good tax planning strategy will make full use of offsetting income with expenses. This begins with having a good idea of how much money your company will bring in at the beginning of the year. With this information, you can effectively come up with a plan to maximize your expenses.
Retirement Contributions
Another great strategy to maximize tax savings is to set up retirement accounts for your employees and make regular contributions. This is often done at the end of the year in order to maximize your deductions. Business owners can deduct the full amount of the contributions that were made into employee retirement accounts from their taxable income
